Brian Lenihan Jnr (Dublin West, Fianna Fail)

IFSRA has done a good deal of work in the 13 months since it was formally established, arising from its new statutory remit. I will not give the House the entire list of the work it has done but it is substantial. The various actions taken today clearly demonstrate that it has powers, and it is willing to use them on behalf of the consumer. The chief executive of IFSRA has said that already.

I understand the actual series of events was that IFSRA, having held a meeting of the authority on Wednesday, 26 May, made a public statement on the matter at 4 p.m. on Thursday, 27 May. While AIB alone is responsible for its public statements on this matter, I understand IFSRA strongly encouraged AIB to make a public statement. The matter is under full investigation by the appropriate authority, which has authority in this matter. If there are other matters involved, they will be investigated as well.

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